Common use of Repurchase of Restricted Stock Clause in Contracts

Repurchase of Restricted Stock. The Corporation may repurchase the Restricted Stock from the Executive upon the terms and conditions hereinafter set forth within sixty (60) days after termination of the Executive by the Corporation for Cause. In the event the Corporation exercises its right to repurchase, the Corporation shall promptly pay to the Executive an amount per share equal to the original purchase price paid per share (i.e., $0.001 per share) by the Executive for the Restricted Stock shares, as adjusted from time to time for stock splits, stock dividends, stock combinations and other recapitalizations.